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Search Results 0 to 8 of about 9 (some duplicates have been removed)
Comedy Central
Jan 8, 2013 7:00pm PST
] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change. it's legal in that it is not technically illegal. [ laughter ] let me explain with someone else's mouth. >> technically it does appear to be legal. here is how. >> the u.s. government can
Jan 8, 2013 7:00pm PST
months, as the government reaches its debt ceiling and can't borrow any more money. president obama wants to lift that ceiling. the republicans don't. and it appears we're heading for another "thelma and louise" ride to the edge. remember -- they went over. we'll discuss that possibility next week with paul krugman, the nobel laureate in economics and "new york times" columnist whose bestselling book, "end this depression now!" calls for full employment as an alternative to austerity. read it, then send us the question you would like me to put to paul krugman. meanwhile, another reality beckons and there's a menace more threatening than the fiscal cliff ever was. what should really be scaring the daylights out of us -- the crisis which could make all the others irrelevant -- is global warming. get this one wrong and it's over -- not just for the usa, but for planet earth. that's the message delivered by hurricane sandy, and by almost all the extreme weather of the past two years. and here in the first month of the new year, it's the message from the most informed scientists in the world.
Jan 8, 2013 7:00pm EST
already hit the debt ceiling again. so i think any banker that is asked to raise the loan limit would like to see a financial plan if they are going to be allowed to borrow more. >> when you talk to your counter parts. kent conrad was the chairman of the budget committee is that correct? >> that is correct. >> why won't he make a budget? that is what i don't get. again, the point i want to make, which you are made a million time times. >> i'll tell you why they won't write one, note that kent conrad was determined to bring a budget to the committee and mark one up but on the day before it happened harry reid told him not to do it and blocked him from doing so, the reason they don't want to do a budget is because it would require them to state to the american people how much they are going to tax and spend and what kind of plan they have for the future. they do not want to do that and it is a sad time that the senate will not follow the law and lay out their plan. larry, we have complemented paul ryan for being courageous for the budget he wrote. why was he courageous? he put out real numbe
Jan 9, 2013 4:00am PST
spending, we wouldn't have to borrow more money. the debt ceiling, last one could you say, the debate was messy. we didn't get a downgrade because the results of that debate didn't solve the problem. president obama, after he got his tax increase, the tax part of his balanced approach, when he came out and said, okay, now, the debt ceiling is off the table, not going to negotiate it -- >> because it's spent, right? $16 trillion national debt. that's money that has been committed by congress. it's been committed by the very people who will fight over whether we should pay the bills. you go ahead, say congress committed this money. february 15th, interesting on the debt. 9 billion coming in $52 billion has to be paid. >> $2.5 trillion revenue coming into an annual basis, which equals what we spent in 2005. so you have to increase the debt ceiling because we continue to run deficits. >> so we need a budget to move forward. >> how about do that with the senate? >> we haven't had a budget for four years? >> christine, the only time we've produced fiscal restraint in this country, the messy
FOX Business
Jan 9, 2013 12:00am EST
yesterday. >>> to our top story a debt ceiling disaster could be coming sooner than expected. a new report by the bipartisan policy center says without congressional action the u.s. will smash into its borrowing limit as early as mid-february. are we doomed to default or will lawmakers be able to get the ball rolling and solve this crisis? i don't know. we have a money power panel to help us sort it all out. the former tennessee governor, phil bredesen, from the fix the debt committee. douglas holtz-eakin formerly of the cbo and evan bayh, former senator and fox news contributor. wow what a power panel. i hardly know where to start. phil, you think it is appalling we gotten this far. why? >> i just think play games, the political games with the faith and credit of the united states is a crazy position to be in. like playing with fireworks and playing with matches in a fireworks factory or something. i understand the need to deal with entitlements and to reduce costs on that but there are other ways of doing that. there is the whole sequester thing coming up down the road. i just think it i
Jan 8, 2013 5:00pm PST
against that without raising the debt ceiling. there is one problem. somebody has to want to lend you money at a decent rate. that's what this is really all about. >> john: where's the money lebowski. >> yeah, if we do default on our debt, the problem is going back out into the credit markets as we do on a regular basis and say please give us more money and we really like borrowing this money at this low rate we've been borrowing at. this is a good thing. people are going to be maybe a little less interested in loaning us money at a good rate if they go wait a minute, you just told everybody who loaned to you before including us that you can't pay us. we can pay the interest but that isn't the best way to go to the credit markets isn't -- is it? >> john: trisha, when you consider this might be a feasible option for the president purely as a bargaining chip against the on stinnate republicans in the house and senate. >> i think it is a bargaining chip as long as it is very clear that he doesn't cave in to their demands and that he's willing to hold it really at bay. in other words, we
Jan 9, 2013 9:00am PST
.s. hit the debt ceiling and is only about two months before it must raise the borrowing limit or risk a default on the bills. what should the country do. ben stein joins us next with his answers and a weigh in on president obama's pick. rises hi. morning starts in high spirits, but there's a growing pain in his lower back. as lines grow longer, his pain continues to linger. but after a long day of helping others, he gets some helpful advice. just two aleve have the strength to keep back pain away all day. today, jason chose aleve. just two pills for all day pain relief. try aleve d for strong, all day long sinus and headache relief. >>> the 112th congress was the least productive congress ever. they fought about everything, the campaign, the fiscal cliff, you name it and now the 113th congress is drawing battle lines over president obama's cabinet picks. the grid lock seems endless. no stranger to this ben stein. he was a speech writer and lawyer for president richard nixon. he is a comedian and has his own game show. the list goes on and on. ben, first of all, comedian is the most im
Jan 9, 2013 7:00am PST
the debt ceiling. >> it is congress' responsibility to ensure that the bills congress racked up are paid. >> reporter: just one of several looming showdowns as the president prepares to kick off his second term. >> what you're seeing is a more aggressive barack obama, someone who is looking more at polishing what his place in history will be, the mark he wants to leave on the country in the next four years. and that, in some ways, means a more contentious relationship with congress. >> reporter: and some serious people, matt, are floating an idea to try to avoid that debt ceiling crisis, proposing that the treasury department mint a platinum trillion dollar coin. you would put that coin away in the federal reserve and then if necessary, you would spend it to help pay off the money that the u.s. owes. if that did happen, an idea some would call ridridiculous, you wd hate to be the person to put that coin in the million dollar meter. >> not a good thing, peter. thank you. >>> new jersey governor chris christie made some headlines recently when he called out gop republicans for postponing a
Search Results 0 to 8 of about 9 (some duplicates have been removed)